Liverpool Football Club released their financial results for the year to May 31, 2020, as the full effects of the COVID-19 pandemic are realised.
The press release from LFC reveals how their finances were damaged by the coronavirus pandemic, with the club recording a pre-tax loss of £46million. Media revenue is down by £59m, matchday revenue by £13m, commercial revenue is up by £29m and overall, income is down by £43m to £490m.
Paul Joyce reported on April 1st that FSG had sold a 10% stake in the club to RedBird Capital Partners worth £543 million to “allow it [the club] to absorb the impact of the pandemic.”
At the time of the article, it was unclear how serious the impact of the virus had been on Liverpool, but now we see how the first two months of the pandemic has savaged the owners’ finances.
The desperation from the Super League clubs now makes sense. That’s not to excuse the clubs’ greed, but we are yet to see how the club’s finances have been impacted from May 31, 2020, to present.
Liverpool’s owners also tried to furlough its non-playing staff but protest from supporters saw that decision reversed. Football clubs make millions of pounds every year, but as it has impacted the average person, it has also damaged football clubs across the world.
While the biggest clubs in Europe feel sorry for themselves, the smaller clubs are the ones being hit the hardest and in the UK, fans returning to stadiums is much needed and the sooner it happens, the better.
Goal reported in March that supporters could return to Premier League stadiums for the final two gameweeks which would see fans back at Anfield for the final game of the season against Crystal Palace.
Football has taken a massive blow over the last 14 months. Thankfully, with the vaccine in circulation, the worst of the pandemic seems to be behind us and hopefully, we’ll have fans back at full capacity in just a few short months.
The 2021/22 season will be remembered fondly by all supporters as it will be the one in which supporters make their return en masse.